After hours outrages prices?

MistakesWereMade

Junior member
47 2
I was looking at the nasdaq lvl 2 for pbr and I see set prices at 0.01-9999.
Is there a reason people do this?
 
Last edited:

Stargunner

Active member
127 19
Market makers always have to quote a price. Apparently, it can be ANY price. They have done this in the past when they wanted to step out of the market, but are legally obliged to quote a price.

I did however think the flash crash made this kind of quotation illegal, because algorithms went ballistic trying to trade these prices, bankrupting firms in a few seconds.
 

drtro

Active member
216 21
There's no HFTs providing liquidity after market hours, and most if not all algo traders shut it down as well. It's all basically what Stargunner said.
 
 
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